Formula Systems (1985) (NASDAQ:FORTY) Shares Gap Down – Time to Sell?

Formula Systems (1985) Ltd. (NASDAQ:FORTY) gapped down before the market opened on Friday . The stock had previously closed at $141.44, but opened at $133.37. Formula Systems (1985) shares last traded at $133.37, with a volume of 297 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Formula Systems (1985) in a research report on Friday, March 27th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Formula Systems (1985) presently has a consensus rating of “Hold”.

Formula Systems (1985) Price Performance

The business’s 50 day moving average price is $131.77 and its 200 day moving average price is $146.55. The stock has a market capitalization of $2.04 billion, a P/E ratio of 3.48 and a beta of 1.17. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.63 and a quick ratio of 1.61.

Institutional Trading of Formula Systems (1985)

Several large investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP grew its position in Formula Systems (1985) by 2.7% during the first quarter. Dimensional Fund Advisors LP now owns 3,315 shares of the technology company’s stock valued at $391,000 after buying an additional 86 shares during the period. Raymond James Financial Inc. bought a new stake in Formula Systems (1985) during the second quarter valued at approximately $73,000. Altshuler Shaham Ltd grew its position in Formula Systems (1985) by 10.4% during the first quarter. Altshuler Shaham Ltd now owns 7,742 shares of the technology company’s stock valued at $926,000 after buying an additional 727 shares during the period. GHP Investment Advisors Inc. grew its position in Formula Systems (1985) by 10.8% during the third quarter. GHP Investment Advisors Inc. now owns 7,716 shares of the technology company’s stock valued at $1,082,000 after buying an additional 755 shares during the period. Finally, Elevation Point Wealth Partners LLC bought a new stake in Formula Systems (1985) during the first quarter valued at approximately $206,000. 34.76% of the stock is currently owned by institutional investors.

Formula Systems (1985) Company Profile

Formula Systems (1985) Ltd is an Israeli publicly traded holding company specializing in the software and information technology sectors. Founded in 1985 and listed on NASDAQ under the ticker FORTY, the company focuses on acquiring, investing in and developing independent software firms. Its core mission is to foster innovation in enterprise software, cybersecurity and digital transformation solutions.

The company’s principal activities center on holding controlling and significant equity stakes in several market-leading software enterprises.